Bash Out Quick to these Top 5 Performance Marketing Challenges in 2024
Performance marketing has now become more challenging than ever. Especially when in 2024, new threats and risks step forward to add major issues of connecting with consumers.
Along with that, according to an estimate the US AI market will reach 600$ billion in revenue by 2027, the professional marketers have too much to focus on. So let’s explore the top performance marketing challenges and how can you tackle them.
1. How to Facilitate a Strong Sales and Better Marketing Alignment
Sales and marketing being the two sides of the same coin play an efficient role for a company to a consumer. Sales are all about guiding a consumer and converting his interest in action into a decision-making process. While marketing focuses on raising that product’s awareness and generating consumer interest in that product.
You need to understand that the role of both these factors cannot be underrated in performance marketing. Companies with poor sales and marketing alignment face a 4% revenue decline than those with a strong sales and marketing game who achieve a 20% yearly growth rate.
If you want to know whether your company needs a sales and marketing alignment, you need to focus on the following factors.
- If your team is not looking at the same data and interpreting it differently
- If sales and marketing groups are operating separately and are not aligned to work together and share data, insights, and potential risks.
- If the promises of your marketing material are different from the resultant product and are confusing customers.
- If there is a lack of clarity that the leads are qualified.
To fix these issues and to align sales and marketing follow some steps. Encourage both teams to share the same platform. Give a clear space for dialogue. Set common goals whether they are about customer satisfaction, lead generation, or generating more revenues.
Use technology like CRM systems, that make it easier for you to recognize the opportunity and avail it for betterment.
2. Hiring Top Talent
Now in 2024 when the budgetary allocations towards digital performance marketing are surging, this industry reflects a robust growth until 2027. Another surge in e-commerce and omnichannel strategies and the latest digital marketing techniques requires you to hire a skillful talent, well-aware of market updates, and could manage the trending solutions.
Those who could manage to leverage PPC, SEO, financial services, mobile banking, and AI-driven services. They must be well aware of tactics used to integrate digital and traditional media to enable companies to reach out to international customers and expand their demographic base.
In this age, there’s a profound shift in customer behavior and they want more array of options in a faster and more convenient way. From social media to mobile apps, every advancement in the internet is facilitating this behavior. Also beyond the individual sectors, businesses are trying to reach a more diverse audience from millennials to Gen Zs, and even Generation Alpha.
Businesses therefore want to adopt a hiring pattern that targets talent capable of coping with all these challenges while staying competitive to market needs.
3. Be Aware of the Social Issues Your Audience Cares About
Connecting with your audience is necessary for performance marketing strategy and for that, you have to dive into their world. This is because around 76% audience believes that companies understand their needs and expectations. To connect with your audience you send them a message using multiple modes. However, with the overload of information, making your message stand out is a real task, requiring more than mere creativity.
To sort this out, listen and observe the social media concerns of your audience. Use multiple tools and methods like surveys and social media platforms to figure out their beliefs and experiences.
Remember that different generations have different priorities. For instance, the younger generation is more vocal about equal rights and climate change, while the older generation focuses more on health care and social and financial security.
Companies that understand and embrace this difference of gender, ethnicity, and demographics are successful in making performance marketing strategies that people find themselves in.
4. Importance of Creating Content That Generates Leads
For those running a business, lead generation is always a priority. With so many different priorities to choose from, quality, lead-generating content is a must. It is a powerful performance marketing tactic that has gained popularity for good.
With valuable, informative content you can not only generate leads but will also build a relationship with your audience. However, you have to consider targeting the right audience. Otherwise, no matter how good your content will be if it doesnt reach the right audience, it will bring no fruit.
5. Gaining and Keeping Followers on Social Media
While so many active social media accounts are available online, you need to crack the code that brings more traffic to your account. Popular brands don’t effortlessly gain loyal followers but there’s a science behind it.
For instance, post on Monday, Wednesday, and Friday, at optimal times like 8 am and 3 or 7 pm. Track the number of visitors on your platform, and which platform is more successful. Instead of becoming reformers, the people who mostly talk about themselves, become informers and bring value to the table.
Cash on daily trends and use this opportunity to post about the topics that people like to hear including food, clothing, gadgets, fitness, quotes, and traveling. There are many categories so choose one that fits with your business and add a touch of humour to your story.
Conclusion
Hopefully, you find this guide helpful in tackling new strategies to overcome the performance marketing challenges in 2024. Stay aware of the ever-changing scenario and be consistent with your actions for a fruitful outcome.
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